RM Auctions, in association with Sotheby’s, held its third annual Automobiles of London auction on October 28th, 2009 at Battersea Evolution in London, posting $18 million in total sales with a strong 87% of all lots sold.
The single-day auction presented 84 motor cars, consigned from 11 countries around the world, and 40 lots of automobilia, attracting strong international interest from bidders in the room, on the phone and over the internet.
A 1950 Aston Martin DB2 Team Car ‘VMF 64’ with Le Mans and Mille Miglia provenance, offered for the first time in 52 years, set a new auction world record for an Aston Martin DB2, achieving $910,250, while 13 lots exceeded their original high estimates. Most notably, an original 1969 Mercedes-Benz 600 Pullman Landaulet surpassed its pre-sale high estimate of $95,000 to achieve the remarkable sum of $509,740.
“This sale wraps up another fantastic year for RM globally,” said Max Girardo, Managing Director, RM Europe.
“We’re proud of our reputation for consistently achieving record prices and offering the finest motor cars available to the market, and yesterday’s results were certainly no exception. With an 87% sell-through rate and numerous lots exceeding their estimates, it’s fair to say that the collector car market is still remarkably strong,” added Girardo.
The top sale of the evening was a 2006 Mercedes-Benz CLK GTR Roadster, the only right-hand drive example built, achieving $1,019,480, followed closely by a 2005 Mercedes-Benz CLK GTR Coupe selling for $864,738.
The event also presented a fine selection of memorabilia and coachbuilt motor cars from the private collection of Mr. Edgar Schermerhorn. Headlined by a 1938 Bugatti Type 57C Stelvio for $728,200, the collection achieved a total $2.48 million.
RM Auctions offered 84 cars for sale, with 69 finding new owners, reflecting an 82% sale rate. The total sales volume was $18,170,393 and the average price per car sold was $263,339.
Click for the complete sales results: 2009 Automobiles of London Results
Last year, RM sold 69 of 100 cars offered (69% sales rate) for total sales of $24,266,998, buoyed by the 1997 McLaren F1 that brought a record $4,149,200. The average price per car sold was $351,695.
(Note: Results are converted from GBP to USD at £1.00 = $1.655).
2009 Automobiles of London Auction Results
[Source: RM Auctions]